The Biden administration on Friday announced its first major investment to kickstart the US carbon removal industry – something energy experts say is key to getting the country’s planet-warming emissions under control.So let's have a look at the numbers.
Direct air capture removal projects are akin to huge vacuum cleaners sucking carbon dioxide out of the air, using chemicals to remove the greenhouse gas. Once removed, CO2 gets stored underground, or is used in industrial materials like cement. On Friday, the US Department of Energy announced it is spending $1.2 billion to fund two new demonstration projects in Texas and Louisiana – the South Texas Direct Air Capture hub and Project Cypress in Louisiana
“These two projects are going to build these regional direct air capture hubs,” US Energy Secretary Jennifer Granholm told reporters. “That means they’re going to link everything from capture to processing to deep underground storage, all in one seamless process.”
Granholm said the projects are expected to remove more than 2 million metric tons of carbon dioxide from the air annually once they are up and running – the equivalent of removing nearly 500,000 gas cars off the road.
$535 per metric ton. Seems high.
I don't know the latest cost numbers for carbon capture, but I'll post this and come back with more information.